For the first time in a year, US President Joe Biden and Chinese President Xi Jinping held talks on many global issues. (Source: NBC News)

In his opening remarks, President Biden said the US and China need to ensure competition does not lead to conflict and manage their relationship responsibly. At the same time, global issues such as climate change, counter-narcotics and artificial intelligence (AI) require the mutual attention of both sides.

For his part, President Xi Jinping noted that much has happened since their last meeting a year ago in Bali. Although the world has emerged from Covid-19 and the global economy is recovering, the world is still suffering from many impacts, leading to slow growth.

The Chinese president viewed the relationship with the US as the most important bilateral relationship in the world, and affirmed that the two leaders shouldered heavy responsibilities to the people of the two countries, to the world and to history.

Mr. Xi Jinping emphasized that with two big countries like China and the US, conflict and confrontation will cause unpredictable consequences for both sides.

Speaking to reporters after the meeting, Mr. Biden affirmed that the US will continue to compete with China, but will manage that competition responsibly, to prevent escalation of conflict.